On March 11, a day before the Trump administration announced a 25% tariff on all imported steel and aluminum products, steel products were piled up at Pyeongtaek Port in Gyeonggi Province, South Korea. In response to the impending imposition of reciprocal tariffs by the United States next month, the Ministry of SMEs and Startups (MSS) has announced plans to hold training sessions and on-site consultations to support exporting small and medium-sized enterprises (SMEs).
On the 27th, the MSS stated, “We will hold a ‘Support Training and On-site Consultation for Exporting SMEs in Response to the Possible Imposition of Reciprocal Tariffs by the U.S. Government’ at the K-Biz Hall of the Korea Federation of SMEs starting at 1 PM on the 28th.” This event, co-hosted by the MSS and the Korea Federation of SMEs, is designed to share the latest trends and government support policies with SMEs that may struggle to immediately react to changes in U.S. tariff policies on steel, aluminum, and their derivatives, thereby minimizing their losses. Consulting booths will also be available on-site to provide direct consultations with tariff experts.
The main programs include theoretical education on the latest trends in U.S. tariff policies, changes in tariff policies by major products, practical knowledge for SMEs such as methods for calculating the content of steel and aluminum, and how to respond when it is unclear whether tariffs apply. Additionally, government support policies for SMEs, such as fast-track policy funds for companies affected by tariffs, will also be introduced.
The MSS plans to kick off the event in Seoul on the 28th and subsequently hold a series of tariff response training sessions and on-site consultations across different regions, including Jeolla (April 7), Gyeonggi (April 9), Chungcheong (April 11), and Gyeongsang (April 15). No Yong-seok, Director of SME Policy at the MSS, stated, “We plan to provide various tariff response information and support policies through the Export Support Center website in an easily accessible manner and to quickly offer support through an emergency response team composed of public and private experts for issues reported to the grievance report center.”